Can someone explain to me what is happening with Telstra. Today the shares went ex entitlement to the Buyback. They went UP 7 cents. I read that as the market valuing the Buyback as a negative 7 cents a share. I just don't get it :-( (Yes, I know there's a dividend ex date next week, just deal with the Buyback for now please)

Commenter

Cornucopia

Location

GC......BB zone :-) !!

Date and time

August 20, 2014, 4:00PM

Maybe that means the market is expecting the buyback to push up share price? Or TLS holders would prefer to get their dividend then sell on-market?

I didn't say "good"... I said not too bad. I expected them to get punished some more. SUL already has been & I can handle it possibly dropping tomorrow. I'm counting on everything being factored in and being oversold. Like I said... a punt for tomorrow's "not so bad" results! :)

Commenter

GS

Date and time

August 20, 2014, 4:08PM

SGH... just jumped out after a wild ride up in the last 5 days.. usually I hold longer than this but reached a target that I thought would take months to reach. in 5.19 out 5.96.. yes they will go higher but may take a while doing so.

Commenter

Lean Too

Date and time

August 20, 2014, 3:17PM

What is going on with MYX? Steady decline since I bought in, but can't find any adverse news... What am I missing?

Commenter

doglover

Date and time

August 20, 2014, 2:59PM

Who is buying up CMG?

Commenter

minelabmaster

Date and time

August 20, 2014, 2:58PM

Congrats to Prime Media (PRT) being the most boring stock there is! Not waiting for results, I'm out!

Commenter

GS

Date and time

August 20, 2014, 2:43PM

Share prices of our electricity retailers/producers AST, SKI, DUE continue to advance to record highs in eager anticipation of the bonanza to come their way when the RET is wound back.

Commenter

mitch of ACT

Date and time

August 20, 2014, 2:36PM

Thats why im sitting on SKI and DUE. Also I generally think the legislated pricing method will make for continued good yeilds

Commenter

Wwwish Lion

Location

Melbourne

Date and time

August 20, 2014, 3:15PM

any danger of a day in the red?i'm over it!wtf's putin when you need him ;-}

Commenter

no banks .. no party!

Date and time

August 20, 2014, 2:33PM

The sanctions meant he had to reapply for a new secret CFD account... give him time :)

Commenter

GS

Date and time

August 20, 2014, 3:05PM

you want red? buy BDR and MYX.

Commenter

doglover

Date and time

August 20, 2014, 3:48PM

Expecting an ok result from KMD next week, not sure if the strong buy/overweight recommendation from comsec is justified though?

Commenter

Mike

Location

Melb

Date and time

August 20, 2014, 2:18PM

Jobs for locals, this is what we are talking about!

MINING COMMENCES AT MAULES CREEKWhitehaven Coal Limited (ASX Code: WHC) is pleased to announce the commencement of open cut mining in the Maules Creek box-cut. Two blasts last week preceded today’s start of full scale mining using Whitehaven’s new mining fleet being operated by Whitehaven employees. The employee recruitment campaign was very successful. Whitehaven has set an objective of ensuring 75% of the employees at the mine are local residents once operations are fully ramped.

Commenter

Allan Mitchell

Location

SEQLD

Date and time

August 20, 2014, 1:55PM

Watching draglines and trucks slowly mining, wherever they may be, is a very relaxing thing to do. Sit in a position where you can line up a couple or so and watch them turn in and out of synch with each other. Knowing all the while that they are turning out lots of cheap energy.

Commenter

Picken

Location

Choose

Date and time

August 20, 2014, 2:13PM

Yet another new coal mine. Just what the environment needs. I wonder how long those jobs will last with falling coal prices.

Commenter

mitch of ACT

Date and time

August 20, 2014, 2:13PM

@Picken I suppose you could do that but the last time I was near an open-cut coal mine I couldn't see anything for dust. I was spitting out coal dust that I had breathed in for some days afterwards.

Why are baby boomers in uproar over a medical co payment but are happy for their grandkids to have to pay $1.5m for a 80 year old, 3 bedroom dump in Strathfield??

Commenter

Really??

Location

Sydney

Date and time

August 20, 2014, 1:30PM

Would you want your grandkids living with you. Any price is worth having them somewhere else. As for doctors' visits. The older you get the more frequently you go. Having to pay more as your income shrinks makes life harder.

Commenter

mitch of ACT

Date and time

August 20, 2014, 2:31PM

Because they're not just the most spoilt but also the most sanctimonious generation in modern Australia's history.

They call being 'progressive'.

Commenter

SteveH.

Date and time

August 20, 2014, 2:35PM

baby boomers? can't stand em..

Commenter

no banks .. no party!

Date and time

August 20, 2014, 3:07PM

I do like Joe Hockey, but he should have allowed GrainCorp sale with some restrictions to ensure its not a monopoly.JohnBB must have liked Joes call on that one.

Commenter

Wwwish Lion

Location

Melbourne

Date and time

August 20, 2014, 1:11PM

Wwwwish Lion:

If a foreign government brings in foreign workers to work on a foreign owned farm in one of our 'special migration zones', then exports the produce through a foreign owned agribusiness via a foreign owned port can you please explain to me at what point foreign 'investment' becomes 'colonisation'?

Re the government scaring away investment in renewable energy in Australia -

With their anti-science, coal barons first policy, I'm sure they see scaring away renewable energy investment as a good thing!

Commenter

Fred

Date and time

August 20, 2014, 12:48PM

Yes a great contribution towards Tony Abbott's 1 million jobs target, altho as with so many other gov't decisions he must have meant 1 million jobs to lose, not gain. Rising unemployment does wonders for keeping wages down and workers cowered. Does nothing for a healthy economy though.

Commenter

mitch of ACT

Date and time

August 20, 2014, 1:06PM

A level playing field,free of taxpayer subsidies,,,,,,aww that's not fair.

Commenter

Loki

Date and time

August 20, 2014, 1:22PM

@Mitch, with regard to the one million jobs in 5 years pledge - as JohnBB would know, Abbott's immigration policies will see Australia's population increase by 2.3 million people in that period. So even if he achieves his goal, which he doesn't look like doing, it will be a net loss of jobs.

@Loki - a taxpayer subsidy that makes a profit for the taxpayer might otherwise be known as a 'sensible investment'. If it helps to mitigate a slowly unfolding environmental disaster, even better.

In any case, it's a well known fact that fossil fuel producers in Australia are subsidised, so why the double standard?

Commenter

Fred

Date and time

August 20, 2014, 1:35PM

It would be nice to have a level playing field, free of taxpayer subsidies. Namely the subsidies that the coal, oil and gas industries get.

Commenter

Shannon

Location

Melbourne

Date and time

August 20, 2014, 1:53PM

@Loki so if you don't approve of gov't subsidies does that mean that you think Tony Abott's PPL scheme is a bad idea. Then there's subsidies for education, health, welfare, the PBS. Those subsidies make the unaffordable affordable and surely distort the level playing field that you so desire.

Commenter

mitch of ACT

Date and time

August 20, 2014, 2:06PM

Governments have a key responsibility to provide healthcare,education,infrastructure etc,but I don't believe they should be involved artificially distorting the free market flow of capital. If a project is viable,it will attract investment on its own merit. Taxpayers should not be paying higher power prices and seeing their tax dollars spent on propping up unprofitable private market enterprises.

Commenter

Loki

Date and time

August 20, 2014, 2:22PM

@Loki, well that extra $8bn to flow to the power companies when the RET is wound back is going to come from power consumers, also known as taxpayers.

Commenter

mitch of ACT

Date and time

August 20, 2014, 3:42PM

That alleged $8 billion will go to whom ever those consumers decide to buy their power from. We can say that in a free market that will be the best/cheapest suppliers. In a distorted market the $8 billion would be even higher,so consumers will be better off.

Commenter

Loki

Date and time

August 20, 2014, 4:21PM

I love reading Gittins comments, always biased nicely.Talking of income inequality Australia is toward the lower end and compared to most of Asia, US, South America we are far better off. http://en.wikipedia.org/wiki/File:Gini_Coefficient_World_CIA_Report.svg

Obama is trying to over come congress not backing climate change, or alternativly US Congress is in step with Abbott. China is more concerned with polution levels for breathing than climate change... Oh we can all spin a bias

Commenter

Wwwish Lion

Location

Melbourne

Date and time

August 20, 2014, 12:44PM

And I see Wwwish is playing along nicely with his own bias..

Commenter

mitch of ACT

Date and time

August 20, 2014, 12:50PM

Wwwish Lion,

a)China shifting away from coal so its citizens can breathe,

b) China shifting away from coal because it listens to scientists rather than Daily Telegraph authors on the risks of climate change

Firstly, those two approaches are not mutually contradictorySecondly, either way, they're shifting away from coal, so either way, our government is backing the wrong horse.

Commenter

Fred

Date and time

August 20, 2014, 12:53PM

Wwwish Lion is right though. There is no doubt that if China could blast its pollution out anywhere but over China, it would do so. They couldn't care less about climate change at the expense of their prosperity, it is only concerned with the health of its citizens and probably even the aesthetics of smog.

Commenter

Gareth

Location

Sydney

Date and time

August 20, 2014, 1:01PM

@mitch, Wwwish Lion was being deliberate and not necessarily displaying his true biases :) Wwwish Lion also likes to talk in the third party sometimes.Wwwish Lion actually likes renwable energy particularly wind mills on coastal roads.

Commenter

Wwwish Lion

Location

Melbourne

Date and time

August 20, 2014, 1:06PM

Watching windmills slowly turning, wherever they may be, is a very relaxing thing to do. Sit in a position where you can line up a dozen or so and watch them turn in and out of synch with each other. Knowing all the while that they are turning out lots of pollution-free energy.

Commenter

mitch of ACT

Date and time

August 20, 2014, 1:44PM

Another poor call by an out of touch Board and Senior Executives. You have held our capital for years and provided poor returns. You have wasted money buying assets that have failed to earn sufficiently and in some cases blown-up. We shareholders have remunerated you well and suffered too long in silence. Wholesale changes to the Board are required.

Commenter

Stephen

Location

Sydney

Date and time

August 20, 2014, 12:37PM

You just described half the companies in the ASX200 :) Scarily, most of my shareholdings.

Any particular company you meant?

Commenter

ALittleToTheRight

Date and time

August 20, 2014, 1:15PM

Actually I thought he was talking about the Abbott gov't, wasteful, out of touch and pursuing their own agenda at everyone else's expense and paying no regard to act for the common good of those to whom they are responsible.

Commenter

mitch of ACT

Date and time

August 20, 2014, 1:42PM

CCL net profit beat analyst forecasts and EBIT was in line with company announcement. Share price fallen 3-6% upon opening. Panic selling or were people expecting some magic?

Looks like the company is recovering for the long term. Still happy with my holding.

Commenter

Sceptical Prophet

Date and time

August 20, 2014, 12:14PM

Can ACR crack two dollars today?

Commenter

Rabbit

Date and time

August 20, 2014, 12:11PM

Ed, do you have info when AMP announces its result? ouldn't locate the info browsing AMP result.

EDs: Hi Up and Down. Bloomberg tells us AMP reports tomorrow. Chrs

Commenter

Up and Down is Norm

Date and time

August 20, 2014, 11:56AM

Thanks a lot for Ed's prompt response. Happy Reader.

Commenter

Up and Down is Norm

Date and time

August 20, 2014, 1:58PM

BDR

Sholder notice Van Eck soaking up more (9million)

Don't know who sold.

Wish I had Van Eck's money medium term or better still MGX's $540m Chinese major shareholders (are they really independednt or is the government in there somewhere or ???) No correlations in their vol and price movements and iron ore...or?

Commenter

Harry Rogers

Date and time

August 20, 2014, 11:38AM

CountPlus (CUP) just announced a lower 2c div to their usual 3c quarterly div.

I got out of it after the last div. Maybe this is why it fired a few warning shots a couple of weeks ago with that drop to $1.55... A sign of things to come? :/

Commenter

GS

Date and time

August 20, 2014, 11:36AM

I remember those on here trumpeting what a buy CUP was based on 3c f/f quarterly dividend & 50%+ ownership by CBA. Now look at it. Great opportunity for CBA to swoop in and pick up the rest on the real cheap.

Commenter

mitch of ACT

Date and time

August 20, 2014, 11:52AM

I'm guilty of that but it has been such a great short/medium trading stock for me over the last 2 years.

Today is also a reminder to me not to do silly things such as build a large stake, like I had as of the last div. Feeling lucky!

At 8c (total yearly div), at these prices, meh no thanks!

Commenter

GS

Date and time

August 20, 2014, 12:08PM

Wow. It's like watching a train wreck in not so slow motion.

Commenter

Gareth

Location

Sydney

Date and time

August 20, 2014, 12:19PM

If you're bored, sit on the market depth pressing refresh. It's jaw dropping! There are hardly any buyers left. I hope none of our forum regulars have been too badly burnt.

Commenter

Gareth

Location

Sydney

Date and time

August 20, 2014, 12:28PM

Flatliner of the year

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

August 20, 2014, 12:38PM

Yes, but IMO oversold at $1.40. Results not bad and 5.71% return on the new 8 c pa dividend.

Commenter

YIn or yang

Date and time

August 20, 2014, 12:44PM

I see a tactic to trigger stop loss orders and panic sellers then swoop in for a nice bargain. There seems to be a prima facie case for ASIC to conduct an insider-trading investigation into the price fall to $1.55 a couple of weeks ago.I've also noticed investment companies reducing their dividends in the face of rising share prices. Yields falling as share prices rise. ALR, KAM now CUP.

Commenter

mitch of ACT

Date and time

August 20, 2014, 12:54PM

Then straight down...SMSF took a wack,holding 5000 for yield,guess its a looooong as 0 capital gain in like forever......insert expletive.

Commenter

BearshapedBull

Location

Scorched lightly

Date and time

August 20, 2014, 1:08PM

Surely the dividend and capital return initiatives of BHP were great for many shareholders, especially small investors.

A good dividend and we will be getting shares in a new company worth approximately 10% of the value of BHP.. Almost certainly the value of BHP shares will NOT go down after the demerger as those assets are currently not appropriately valued in the company.

@mitch..I didn't mean to poo poo the co-payment entirely..I don't agree with it al all (but also think there should be disincentive for frivolous visits)...I just wanted to point out that the priorities of Labor and Greens are a joke...Their pro population growth position will undermine the poor far more than any $7 fee will.

Commenter

JohnBB

Date and time

August 20, 2014, 11:06AM

The medical profession doesn't seem to agree that frivolous visits are a problem. That's just a myth perpetuated by the LNP to justify the co-payment. Another LNP myth is that the poor don't drive cars or not as far, or that the rich pay 50% of their income in tax. With the LNP it's just one mythtake after the other.

Commenter

mitch of ACT

Date and time

August 20, 2014, 11:21AM

mythtake...haha..

I'd never read "frivolous" before..but then again I never read anything LNP say...Okay then if that's what the doctors say (my dad was one)..then I'm with you...As for population..I read you say something re it the other day...Tell them to change and they'll get an avalanche of votes..(previously Big Australia Shorten) Shorten for PM.

Commenter

JohnBB

Date and time

August 20, 2014, 11:32AM

@mitch, they dont think they are a problem because it keeps their schedule booked and the gov gives them money.Having a few doctor friends (one owns a large GP clinic and a few phamacies) they dont think the $7 is a big deal

Commenter

Wwwish Lion

Location

Melbourne

Date and time

August 20, 2014, 11:32AM

@Wwwish, of course someone who stands to make money off the co-payment doesn't think it's a big deal. They get to keep $2 each and every time But what do the people who will have to pay that $7 think. That's many, many more people (and votes) than those who will benefit.

@Wwwish LionGovt is trying to blance budget by bringing in changes in education, copayment, pensions etc. These things only contribute 1% to the budget.If govt is serious then it should catch bull by the horn and fix negative gearing, FBT and SMSF rorting - the real culprits. If they do this they will not have to bother with any of these things for years to come. Fixing this will hurt pollies and rich.Copayment is tinkering on the edges and frivolous visits are negligible but it may be too much for sick person on a pension. "GP clinic and a few phamacies they dont think the $7 is a big deal" - It is big deal for poor patients who will be paying this and not the doctors.

Commenter

xyz

Date and time

August 20, 2014, 12:19PM

mitch i meant the argument against the co payment is people wont go to see doctors, this is not the opinion of the doctors i know. $7 to get medical help is good value.

Commenter

Wwwish Lion

Location

Melbourne

Date and time

August 20, 2014, 12:34PM

@Wwwish if the $7 won't stop people going to see doctors why were many doctors in Western Sydney texting all of their patients when the co-payment was announced that it did not yet apply and that they would not be charging it. The doctors were reporting that patient visits were dropping away. Sonic Healthcare has also sounded a warning. Reality is colliding with your fantasy.

Commenter

mitch of ACT

Date and time

August 20, 2014, 1:55PM

mitch, its called fear mongering, "oh the bad fee is coming better get in now before the end of days is upon us"

Commenter

Wwwish Lion

Location

Melbourne

Date and time

August 20, 2014, 4:06PM

AGL is raising $1.2 billion. New shares will be issued at a 20% discount.

Commenter

Wally

Location

Flynn

Date and time

August 20, 2014, 11:05AM

Keep BHP the way it is. Large & diversified, & easier to value based on historical prices.

If they break it up, imagine the movements on the share price with I/O going up and down by crazy amounts each year, plus the silly movement the index due to I/O traders.

Damn it BHP, if it aint broke....

Commenter

GS

Date and time

August 20, 2014, 11:04AM

Agree, you hit it on the head. BHP leader team and board have run out of ideas on how to grow the company. To split up is a smoke screen and will destroy value. If it is not then I ask the CEO to show me the money.

Commenter

Viking

Location

Sydney

Date and time

August 20, 2014, 11:53AM

Exactly. Oodles of money paid to mate consultants to come up with something.

Imagine how much the consultants would be paid if they said:

"Well the company is OK in it's present form"

By the way why do we pay the board ???

Commenter

Harry Rogers

Date and time

August 20, 2014, 12:13PM

Why do QBE shares go up today?

Commenter

Barry

Location

Sydney

Date and time

August 20, 2014, 10:52AM

Because there is more demand than supply.

Commenter

Irish Phil

Date and time

August 20, 2014, 11:25AM

@Irish PhilI think original question meant why there is more demand then supply which is moving prices up.

Commenter

xyz

Date and time

August 20, 2014, 11:42AM

Heavily sold down and some brokers upgraded ratings.

Personally, still think it's a weak company and not very attractive to buy.

Commenter

Sceptical Prophet

Date and time

August 20, 2014, 12:02PM

Having work in QBE finance, I can say that the Australian & Asia/Pacific parts of the business are performing very nicely indeed.Weather outlook, and bond yields are going to move in their favour.Provided (and it's a biggie) all skeletons are now out of the US and Latin America closets, then the stock should move upwards at a steady pace.My opinion only

Commenter

Anon

Date and time

August 20, 2014, 12:40PM

Re QBE - price is up also as today announced a share offer at $10.10 for existing shareholders. People are buying in hoping to pick up cheap shares through the capital raising.

Also agree with Anon's posting re future prospects. Should also pick up benefit if $AUD drops as has much business overseas (assuming they start to make decent profit and not drag.....).

Commenter

Foxxster

Date and time

August 20, 2014, 1:32PM

News just gets worse for TPI...ouch.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

August 20, 2014, 10:47AM

Just hoping they can overcome this latest tragedy and get the trucks moving asap.CEO took only action he could - hope also the maintenance has been up to scratch.Still think they are good lonterm.

Commenter

Red Rooster

Location

Darkened room with worry beads

Date and time

August 20, 2014, 1:36PM

Not sure I understand all the angst re BHP. It's price was up 10% over the last 2 months due to corporate action speculation and is now retreating as that hasn't occurred.

BHP have been saying for a while that there focus is spinning off non-core assets and paying down debt.

But with good income and decreasing costs, they will accumulate a lot of cash so a buy back may still be on the cards next year.

Commenter

Life Is Good

Location

The Real World

Date and time

August 20, 2014, 10:47AM

Every time the ASX shows any sign of strength something happens. We had the FTSE Cac Dax up all night. We had the Dow S&P and Nasdaq up all night The market that's gone nowhere for 5 years continues to disappoint. 5 years Dow up 7000points ASX 600. Last two days Dow 255 ASX 35. Have fallen by the same or more for 5 years in percentage terms and couple of Fridays ago Dow fell 78 and the ASX fell 78. Doesn't make sense.

Commenter

Peter

Location

Sydney

Date and time

August 20, 2014, 10:45AM

If you don;t like it invest elsewhere. There are a bunch of ETFs listed on ASX to get exposure to those OS markets you know.

CSL now there went the opportunity of the year to get onboard...will it happen again??i guess odds are on?damn the restrictions of not enough capital...consolation prize another 500 PRY @ 4.53.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

August 20, 2014, 10:43AM

Surprised that TLS's share price is climbing today. Shares bought from today don't qualify for the off-market buy-back. That 15c f/f dividend isn't really that good, with better on offer elsewhere, and flat growth is forecast for the year ahead.

Commenter

mitch of ACT

Date and time

August 20, 2014, 10:39AM

Mitch of the ACT. Yes read what you said yesterday. You seemed to have stop guessing where the ASX is going and now making commentary on TLS that so far is 100% wrong again..

Commenter

Goldfinger

Location

Sydney

Date and time

August 20, 2014, 12:02PM

@Goldfinger at least I have the guts to say what I think will happen and why. All you seem to be able to do is stand and point.

Commenter

mitch of ACT

Date and time

August 20, 2014, 12:11PM

Mitch of the ACT your right and I do stand and point and get straight to the point when pointing out that the pointy end of your comments don't actually calculate to what's going on out there

Commenter

Goldfinger

Location

Sydney

Date and time

August 20, 2014, 2:54PM

People working for BHP paid, Company Directors of BHP paid ,Companies that BHP buys goods from paid. Investors see BHP shares fall from 50.00 to 38.00 over 5 years. They had a buyback 4 years ago stock went down They don't have a buyback yesterday stock goes down. They reported a profit of 13.4Bill BUT most Australian's that hold it in their portfolios most probably not even knowing lose.

Commenter

Dave

Location

Sydney

Date and time

August 20, 2014, 10:36AM

Dave, this is a whinge. You pick the single highest point ($50) and compare today's price with that. That has as much credence as would an analysis that picks the lowest point recent years (~$7 from memory).

Long-term holders of BHP, especially ones that re-invested divs, are very happy people.

Today's fall is about the same as the gain over the past three days. All it says is that that gain was a bit over-exuberant. Expectations of the de-merger and capital return were a bit too high, and now we are back to reality. R.

Commenter

Roadsta

Location

Brisneyland

Date and time

August 20, 2014, 10:57AM

Roadsta, No I picked the point at which BHP had a buyback. They bought back 5 Bill $$ of their shares and have fallen from 50.00 to 38.00 even though they reported 13.4 Bill yesterday. Based on the above if BHP had a buyback yesterday in 5 years we'd be down to 26.00. Workers at BHP doing well Directors doing well Investors could have received much higher Divs elsewhere if that's what they wanted but I was looking for growth and not negative growth. If you are happy with your $6.00 of Divs over the past 5 years and loss of 12.00 of capital then you are very easily pleased..

Commenter

Dave

Location

Sydney

Date and time

August 20, 2014, 12:45PM

Re:100million a day strikeThe deckhands earn at least A$137,000 a year, which can rise to about A$211,000 with benefits and allowances, according to BHP. A junior banker on Wall Street typically makes a base salary in a range of $70,000 to $90,000, with bonuses bringing total pay to as much as $140,000, according to New York-based compensation consultant Johnson Associates Inc.

Very poor comparison imo can we get a reality check please and pick up the standard journos,thats just a bit to sensantionalist...unless thats the flag you were flying.blah.

@bsb, Im not sure what your point is, just the quality of the comparison? or are you trying to say that 137k base is not enough?

Commenter

Wwwish Lion

Location

Melbourne

Date and time

August 20, 2014, 10:47AM

@wish yeah comparison way off target me thinks.horses for courses and other chestnuts.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

August 20, 2014, 11:12AM

Can somebody translate this for me please regarding disposal of shares:

ln-Kind transactions refers to how market makers of exchange traded funds (ETF) can reconcile the differencesbetween net asset value (NAV) and market values when shares of the ETFs are bought and sold. The market makercan arbitrage the ETF shares with the shares that make up the underlylng portfolio, by creatlng or redeemlng lots ofthe ETF shares. This structure causes ETFs to be treated as "in kind" transactlons where investors only pay capitalgains like w¡th stocks, as opposed to other fees associated with mutual funds.

Commenter

Harry Rogers

Date and time

August 20, 2014, 10:29AM

Dont quote me, but it seems if the ETF share value falls out of line with the onderlying portfolio value they can issue or redeem ETF shares to bring it back in line.Image the ETF owns 1 share in company x worth $100. The ETF has 1 share on issue so its intrinsic value is $100.If the ETF share price is trading at $50 the underlying value is out of alignment and they can create another ETF share to equalise to the underlying value. Something like that or it just means they will do what they want...

Licking my wounds should have sold yesterday only down small amount but...

Have been burnt before by the sheer arrogance of this company and particularly Nasser. They know what best for everybody and continue to run their feifdom. Pathetic strategy and very poor communication of justification.

CCL

Result as expected and still in front marginally . Good luck to management in their strategy and thanks for dividend.

Commenter

Harry Rogers

Date and time

August 20, 2014, 10:24AM

@harry Re:BHPB, all my own tilt mate, but i have worked on the ground on BHP sites, they are without a doubt the biggest cowboys in the industry, when they tried their hand at Oil&Gas i actually felt ill seeing some of the risks they were willing to take to get the gas on....biggest industrial killer of Aust workers...barge pole status for me.Avoid is the word,but each to their own.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

August 20, 2014, 10:59AM

FMG in trading halt at 10.10am. Interesting why it always does this prior to profit release. Once bitten twice shy?

Commenter

Sb Gonzo

Location

New Farm

Date and time

August 20, 2014, 10:22AM

always does that..its their way.fair practice i think.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

August 20, 2014, 10:31AM

BHP's share price might have been helped if it had announced an off-market share buy-back, particularly of small parcels. It has the cash to do so. When the split happens the share registers of both companies are going to be very untidy.

Commenter

mitch of ACT

Date and time

August 20, 2014, 10:06AM

I assume a reasonable proportion of people on this blog have shares in BHP. What are your thoughts on the demerger? Would you hang onto your shares in the new company long term?

Commenter

Fred

Date and time

August 20, 2014, 10:05AM

Hear, hear, hear City Convenience stores do not display their prices and this is legal. The key reason for the stores not to show their prices is of course to rip off their customers with obscene price gouging. The other reason not so commonly known is to reduce their tax. If you cannot demonstrate what a product has sold for then it is easier to get away not paying tax on the profit. The relevant authorities should be alarmed by this, but still sitting on their hands.

Commenter

Viking

Location

Sydney

Date and time

August 20, 2014, 10:02AM

....but they are convenience stores using their knowledge of its clientele, nothing wrong with that!

Caveat emptor...

Commenter

Allan Mitchell

Location

SEQLD

Date and time

August 20, 2014, 10:13AM

There will be huge interest in BHP today, a wild ride coming up one would think!

Huge late run at the close last night in anticipation of a big day today but it looks like being big for the wrong reasons.

Price action supporting those who claim the Stock Market is a glorified casino in recent times.

Tickets please, enjoy your ride!

Commenter

Allan Mitchell

Location

SEQLD

Date and time

August 20, 2014, 9:58AM

if one looks at bhp one yr chart it is enough to scare the wits out of the faint hearted

Commenter

stu

Date and time

August 20, 2014, 9:56AM

Cheap cash & low yields elsewhere are blowing up a bubble in share prices here and everywhere. Share are more than fully-priced. The eventual correction is really going to hurt but will be there to be taken advantage of by the cashed-up. http://money.cnn.com/2014/08/19/investing/market-bubble-warnings/index.html

Commenter

mitch of ACT

Date and time

August 20, 2014, 10:15AM

@Mitch: your statement is very general in nature. Specifically, which shares do you think are over-priced?

Commenter

irish Phil

Date and time

August 20, 2014, 10:39AM

got me totally puzzled @Mitchtake ANZ P/E 12 last week, grossly oversold when Mike made his spielSee 35 before years end bet youAnd why do you hold wbc if they are over priced? which they are not

Commenter

stu

Date and time

August 20, 2014, 11:03AM

I'm noticing that yields on shares are falling as prices rise. In many cases the grossed up yield is only around 6%, which is only 2% better than risk-free TDs. With a flat 2015 in prospect I find it very hard t justify present prices as low earnings growth means little growth in dividends. At the first significant shake-out those shares that are overpriced will be there for all to see. Certainly most of the ASX200. Now I'm quite happy to hold shares that I think are overpriced, it just means I won't buy anymore at those prices and if the prices just continue to climb then I will sell and buy those with better yields.

Commenter

mitch of ACT

Date and time

August 20, 2014, 11:34AM

Check out CUP for today's illustration of falling yields and the market correcting accordingly.

Commenter

mitch of ACT

Date and time

August 20, 2014, 11:47AM

Mitch You mentioned over priced shares. Wonder if you could name a few please. Thanks in advance

Commenter

Sally

Location

Sydney

Date and time

August 20, 2014, 2:46PM

Results thick and fast,market movement to follow?WPL up for sureSRX i always knew you'd shineWebjet are we looking at a new flight centre that result is very encouraging., im interested in them now.Seek will be a much anticipated.happy trading.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

August 20, 2014, 9:56AM

"Telstra found divulging web browsing histories to law-enforcement agencies without a warrant"

Corporate Australia behaving badly. Again.

Commenter

Allan

Location

Prahran

Date and time

August 20, 2014, 9:56AM

@Allan, and the law-enforcement officers requesting the information should be personally liable and charged with a criminal offence.

Commenter

Wwwish Lion

Location

Melbourne

Date and time

August 20, 2014, 10:11AM

Probably renders the evidence gained as inadmissible.in any subsequent prosecutions and leaves both parties open to damages claims.

Commenter

mitch of ACT

Date and time

August 20, 2014, 10:34AM

So a business can not cooperate with the police without a warrant? Wouldn't a warrant only be needed to compel a company to comply if they didn't want to in the first place?

Commenter

Why

Location

Not?

Date and time

August 20, 2014, 12:51PM

Interesting when you get transparency and can get some real judgement on a company's actions. I am talking about BHP and its proposal to split the company and 'release value'. Well the London crowd certainly did not agree and voted with their feet.

Commenter

Viking

Location

Sydney

Date and time

August 20, 2014, 9:49AM

WPL good results today. Will it also get dumped by the market? Hope so....wouldn't mind adding some

Commenter

doglover

Date and time

August 20, 2014, 9:35AM

traded out of wpl and into sun last week, took a quick 1500 profit, and into anzIts a wonderful trading wpl is a long term hold, timeWhat is the day of record? cannot find it, may climb in today

Commenter

stu

Date and time

August 20, 2014, 9:50AM

Nice div at A$1.70 grossed up. That's 3.95% just for the interim. Should shed at least that come Wed week.

Commenter

wpl owner

Date and time

August 20, 2014, 9:56AM

@stuThey go Ex on Wed 27th...In by Tue or miss out! Or buy after they shed.

Commenter

WPL owner

Date and time

August 20, 2014, 10:14AM

@stubit ambiguous trading out of WPL then calling it a long term hold, its always been a great earner and the divd cant be matched consistently,getting out of them for ANZ im puzzled but please explain why the jump when the juicy divd is there for the taking,thanks.

Commenter

BearshapedBull

Location

Mugpunetrs Lounge

Date and time

August 20, 2014, 10:25AM

@bearbullI bought 800 wpl, they went up 800 then evens, I sold bought 3000 sun and then another 1000, I made 1500 plus in two days, that's more than the div wpl?I held anz full 12 months, then sold out and in last week, pocketed 11kI am not long on much now because it is too passive, just 10 trades such as last week I would be able to more to please ME instead of worrying about dependents

Commenter

stu

Date and time

August 20, 2014, 10:42AM

Yep well done @ stu always good to take some off the table.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

August 20, 2014, 10:46AM

@bearbull. no Mr you got it lil wrong, I was out and in for 11k profit anz Last week, feeling pretty proud of the effort tooIt is a good bank and barring a war will climb I reckon

Commenter

stu

Date and time

August 20, 2014, 11:27AM

GWA ratings downgrades a result of their use of Comic Sans. Hope they will be able to address this serious management flaw or the company is likely to underperform in the foreseeable future. GWA is facing a siuation where they must upgrade their MS Word proficiency to at least a Times New Roman or an Arial level.

Commenter

Sceptical Prophet

Date and time

August 20, 2014, 9:08AM

You heard it here first! Maybe we should do a study and see if there is a correlation between profitability and font use?